All posts tagged TF1

Stock investors are set to end the week in a sour mood with markets across Europe lower on the continued worries about the raging euro zone debt crisis. Participants have opted for safety over risk after ratings agency Moody’s downgraded several Spanish banks and fellow ratings firm Fitch cut its credit rating on Greece.

Associated Press

With that in mind, equity rating changes by leading investment firms may offer some distraction from these depressing events. Here’s our selection of Friday’s key changes:

Irish lender Bank of Ireland has had its rating downgraded by German investment giant Deutsche Bank, now at sell against hold previously. Deutsche said it expects the Irish lender to be unprofitable until 2014, noting the bank has made it clear it will miss its targets in 2014 and the interim statement released in April confirmed conditions in the first quarter remained challenging. Deutsche also said impairments are likely to continue to be high over the next two to three years. “We expect delays to earnings recovery into 2015 and beyond,” added Deutsche.

Meanwhile, U.S. investment bank J.P. Morgan has started coverage on German residential property player Deutsche Wohnen with a neutral rating. The bank said the company has a strong management team, clear strategy, well positioned German residential portfolio and growth potential. However, J.P. Morgan said challenges remain, noting the risk of equity raising due to the company’s acquisitive mode and that the German residential market is highly regulated and there is risk of intervention if rents/capital values continue to grow rapidly.